Stock Yards Bank & Trust Co. Decreases Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

Stock Yards Bank & Trust Co. cut its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 59.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 11,193 shares of the business services provider’s stock after selling 16,220 shares during the quarter. Stock Yards Bank & Trust Co.’s holdings in Automatic Data Processing were worth $3,277,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the business. McAdam LLC increased its position in shares of Automatic Data Processing by 13.5% during the 4th quarter. McAdam LLC now owns 2,036 shares of the business services provider’s stock valued at $596,000 after purchasing an additional 242 shares during the last quarter. Round Rock Advisors LLC purchased a new stake in shares of Automatic Data Processing during the 4th quarter valued at $225,000. U.S. Capital Wealth Advisors LLC grew its stake in shares of Automatic Data Processing by 29.8% during the 4th quarter. U.S. Capital Wealth Advisors LLC now owns 5,435 shares of the business services provider’s stock worth $1,591,000 after acquiring an additional 1,249 shares during the period. Avantra Family Wealth Inc. bought a new position in shares of Automatic Data Processing during the 4th quarter worth $509,000. Finally, Osborne Partners Capital Management LLC grew its stake in shares of Automatic Data Processing by 1.0% during the 4th quarter. Osborne Partners Capital Management LLC now owns 51,840 shares of the business services provider’s stock worth $15,175,000 after acquiring an additional 488 shares during the period. 80.03% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ADP has been the subject of several research reports. Mizuho increased their price target on Automatic Data Processing from $281.00 to $310.00 and gave the stock an “outperform” rating in a research note on Monday, November 4th. UBS Group increased their price target on Automatic Data Processing from $270.00 to $295.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 22nd. Royal Bank of Canada reiterated a “sector perform” rating and set a $315.00 price target on shares of Automatic Data Processing in a research note on Thursday. StockNews.com downgraded Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Monday, January 27th. Finally, Jefferies Financial Group increased their price target on Automatic Data Processing from $290.00 to $305.00 and gave the stock a “hold” rating in a research note on Thursday. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $291.27.

Automatic Data Processing Trading Down 0.1 %

NASDAQ ADP opened at $303.01 on Monday. Automatic Data Processing, Inc. has a 12 month low of $231.27 and a 12 month high of $311.67. The stock has a market cap of $123.46 billion, a P/E ratio of 31.60, a P/E/G ratio of 3.50 and a beta of 0.79. The stock’s fifty day moving average price is $297.16 and its 200-day moving average price is $284.59. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.56.

Automatic Data Processing (NASDAQ:ADP) last released its earnings results on Wednesday, January 29th. The business services provider reported $2.35 EPS for the quarter, topping analysts’ consensus estimates of $2.30 by $0.05. Automatic Data Processing had a return on equity of 81.85% and a net margin of 19.76%. As a group, equities analysts forecast that Automatic Data Processing, Inc. will post 9.93 EPS for the current fiscal year.

Automatic Data Processing Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be issued a $1.54 dividend. This represents a $6.16 dividend on an annualized basis and a yield of 2.03%. The ex-dividend date of this dividend is Friday, March 14th. Automatic Data Processing’s dividend payout ratio is 64.23%.

Insider Buying and Selling at Automatic Data Processing

In other news, VP Brian L. Michaud sold 362 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $293.83, for a total value of $106,366.46. Following the transaction, the vice president now owns 13,706 shares of the company’s stock, valued at $4,027,233.98. This trade represents a 2.57 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Sreenivasa Kutam sold 38,975 shares of the stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $300.00, for a total value of $11,692,500.00. Following the sale, the vice president now owns 32,604 shares of the company’s stock, valued at $9,781,200. This represents a 54.45 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 42,129 shares of company stock valued at $12,604,872. 0.21% of the stock is owned by company insiders.

Automatic Data Processing Profile

Automatic Data Processing, Inc provides cloud-based human capital management solutions worldwide. It operates in two segments, Employer Services and Professional Employer Organization (PEO). The Employer Services segment offers strategic, cloud-based platforms, and human resources (HR) outsourcing solutions.